While Real Estate is a preferred investment option for many Kenyans, it is also a very high risk in terms of potential raw deals. Many people have lost a lot of money to people posing as landowners or brokers. About 20% of people trying to buy land have fallen into the hands of these con men. Here are ways you could reduce or avoid falling victim.

How to Identify a Con
Delay in subdivisions
Sometimes you buy a piece of land from a large parcel of land that needs to be subdivided among other buyers. The division might take a really long time since not all the buyers have finished payment. Buy land that is already subdivided instead and don’t rely on the beacons but a survey map clearly indicating the subdivisions.

Missing files
Unscrupulous dealers, with the help of corrupt officials at the lands office, plan to have documents hidden slowing down the process of obtaining a title deed. To help curb this have a document on which all the related officials sign on receiving a document. This way you have proof of receipt.

Spousal collusion
Make sure both spouses agree to the sale. Sometimes one spouse is against the sale of a piece of land. After payment is done the piece of land cannot be transferred to the buyer. This ends up in a long court process or insignificant installment payments.  You could visit their homes and have both of them sign a consent form agreeing to the sale. Confirm that the property hasn’t been earmarked for repossession by the government for public utility.

Cash deposit
Most con artists will insist on a 50% deposit. They will sell the piece of land at a very discounted price and insist on a deposit to secure the land. They will even create a situation where the property is in high demand. After the cash deposit they will disappear. Carry out a research on how much land goes for in the area. This way you know how much you should rightfully pay for the land.

Fake land search titles
They will work with employees at the Lands Ministry to come up with false documents of ownership. To avoid this conduct a site visit and talk to the neighbors. They are likely to know the owners of the land.

HOW TO AVOID GETTING CONNED
Know the agent/broker
Get a copy of their registration certificate and confirm their registration with the estate agent’s registration board.

Know the seller
Even if you are using lawyers insist on knowing the seller. If it isn’t possible then get their details and countercheck with immigrations. If it’s a company check with registrar of companies.

Confirm that the property exists
Get all the relevant documents. Talk to the neighbours as well to find out the history of the property, if there are any disputes and who the owners are.

Be patient
Don’t be in a rush to close the deal. Con men will give the impression that other people are ready to commit. Take your time.